Karachi: The benchmark KSE-100 index of Pakistan's stock market witnessed a notable decline, closing at 132,577, down 826 points from the previous day. The index had initially reached an intraday high of 133,566 before the downturn. Trading volumes decreased significantly, with 906 million shares traded compared to the 1,207 million shares in the last session.

Market analysts have pointed out that the index is likely to test its support level at 132,326. A breach below this threshold could initiate a corrective trend, with potential targets on the downside at 129,878 and 127,205. Conversely, resistance is anticipated between 133,560 and 134,200. Investors are advised to exercise caution at higher levels while considering accumulating stocks during dips.

In the corporate sector, DG Khan Cement (DGKC) maintains an upside target, with a recommended strategy of "buy on dips," aiming for price points of Rs171.20 and Rs175.37, with a stop-loss at Rs164.10.

Similarly, Pakistan Petroleum Limited (PPL) presents limited downside risk, with a "buy on dips" approach targeting Rs173.60 and Rs176.30, and a stop-loss set at Rs167.88.

These strategic insights were provided by JS Global, offering guidance amid the fluctuating market conditions.